Refined Product Exports Lag Behind Crude Oil Recovery in Middle East

Despite crude oil flows recovering to near-full levels after the conflict, Middle East refined product exports remain stuck at around 50% of their pre-war levels. This situation has persisted even as crude production recovers.

The region is now relying on a different network to get barrels to market, but refined product supplies are unlikely to return to pre-war levels before the end of 2027, according to forecasts.